Iraq’s Crude Production Rises to Highest Level in 20 Years

Iraq’s crude output rose to the highest in 20 years as the Halfaya field increased production.

Output exceeded 3.07 million barrels a day this month, Abdel Ilah Qassem al-Amir, a spokesman for Deputy Prime Minister for Energy Affairs Hussain al-Shahristani said today in a telephone interview from Baghdad. That compares with a government figure of 2.92 million barrels a day for May published in OPEC’s monthly report on June 12.

Iraq, seeking to more than double oil output by 2015, is poised to overtake Iran as OPEC’s second-largest producer by the end of the year. Production at Halfaya will rise to 70,000 barrels a day in the first week of July, Ali Muarej, director general of the Iraqi state Missan Oil Co., which oversees the field, said on June 18.

The nation’s output will increase to 3.4 million barrels a day by the end of the year after the development of other oil fields, al-Amir said. Production capacity will rise to 4 million barrels a day in the next two years, he said.

To contact the reporter on this story: Nayla Razzouk in Dubai at nrazzouk2@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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